The prices in real estate in Manila, in the Metro Manila region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Manila has fallen in the last 6 months. In November, the average price per m² was ₱ 122,045. In December this price pretty much remained the same at a value of ₱ 124,651 per m². The price for the following two months in (January, February) decreased 93 % with regard to the prior two months. The price per m² has had a considerable deflation of 75 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per m² of ₱ 118,912.75 to ₱ 88,595 during March, and April.
Based upon to the price in Manila (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is ₱ 4,192,711. During December the price went through a considerable rise reaching ₱ 5,136,159. During the following two months (January, February) the average price fell 93 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 131 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 6,352,993 they are 58 % more affordable than the average price for Manila. The properties with the highest average price have 4 bedrooms, Their price is 274 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 10,952,718.
With regard to the average price per m² , those properties with 2 bedrooms are the cheapest ones at a cost of ₱ 61,579 / m², with an average ₱ 96,817 / m² price in Manila. The properties with the highest average prices have 4 bedrooms. They are 54 % more expensive than the average followed by properties with 3 bedrooms with a price at ₱ 100,078 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 6,352,993 it is 58 % cheaper than the average price in Manila. "Condominium" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "Townhouse". At a price of ₱ 23,421,375 it is 1364 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House And Lot" at an average cost of ₱ 46,904 / m² followed by "Townhouse" priced at ₱ 90,075 / m². "House" is the most costly type of property with a ₱ 157,677 / m² cost followed by "Apartment" with an average price of ₱ 108,975 / m².